Palantir’s CEO says the software maker is seeing “another global” growth driven by demand for artificial intelligence

Palantir reported record quarterly results that beat analyst estimates and raised its full-year revenue forecast for the third straight quarter.

The artificial intelligence software company reported adjusted earnings per share of 0.21 cent on revenue that jumped 63% year over year to a record $1.18 billion in the third quarter, well above analyst estimates compiled by Visible Alpha, driven by strong demand for its artificial intelligence platform.

While Palantir still derives its domestic business more from government than corporations, its commercial segment drove most of the company’s growth in the quarter. Palantir’s U.S. commercial revenue rose 121% to $397 million, compared with a 52% jump in U.S. government revenue to $486 million.

CEO Alex Karp described the commercial sector as an “absolute juggernaut” in a letter to investors, as he touted the company’s “otherworldly” growth.

Looking ahead, Palantir said it expects fourth-quarter revenue to range from $1.327 billion to $1.331 billion, prompting it to raise its full-year revenue forecast to $4.396 billion to $4.4 billion, up from $4.14 billion to $4.15 billion previously, marking the third straight quarter in which it has raised its forecast.

Palantir shares rose more than 5% in extended trading shortly after the release, before paring those gains to trade marginally higher. Shares were up more than 170% during the year through Monday’s close, making it one of the best-performing stocks in the S&P 500 for 2025.